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Consumer confusion prompts 22% increase in vehicle finance complaints to CFPB in 2020

Complaints will likely continue to rise as loan modification programs end

Amanda HarrisbyAmanda Harris
March 29, 2021
in Risk Management
Reading Time: 2 mins read
0

Consumer confusion around loan modification programs and repossession moratoria prompted an increase in auto finance complaints with the Consumer Financial Protection Bureau in 2020, as compared with the previous two years. The Bureau published its 2020 Consumer Response Annual Report on March 24, detailing 9,500 auto loan and lease complaints. Overall, vehicle loan complaints increased […]

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